Wanxiang, which is a subsidiary of China-based manufacturing company Wanxiang Group, has already brought a case against the warehousing company in China, and a key element of the case in London is whether that litigation can or should continue.
The dispute arose after Wanxiang sought delivery
of aluminium under warehouse certificates issued by Impala and pledged as security to Rabobank.
To determine whether or not English law applies exclusively, and thus Impala able to call for an injunction on the proceedings in China, the court must decide whether the terms and conditions of a collateral management agreement (CMA) or those found on Impala’s website apply to certain warehouse certificates
Impala’s terms contain an exclusive English jurisdiction clause, the company says; the terms of the CMA do not. Impala says its terms apply; Wanxiang says it is the terms of the CMA that apply.
Once these questions are addressed,...